International Monetary Fund

Regional News • Americas • South America
Argentina Government claims 99% of $65 billion debt to be restructured
Martín Guzmán
Martín Guzmán Credit: Ministerio de Economía (Creative Commons Attribution ShareAlike 4.0)

Argentina’s Economy Minister Martin Guzman announced Monday the country reached a deal with the majority of creditors, and that 99% of the $65 billion debt could be restructured.

The deal would allow Argentina to exit default, and start debt talks with the International Monetary Fund.

Business • Economy
IMF predicts worst recession since the Great Depression

IMF, the International Monetary Fund, forecasts that the recession-related to the coronavirus might be the worst since the recession of the Great Depression of the 1930s. If the coronavirus related restrictions should stay longer than anticipated or even return, the IMF warns of the subsequent damage to the world economy. The IMF further estimates a 3% shrink of global gross domestic product this year.